During the week ending November 16, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have moved down, while transaction activity in the domestic market has been at low-to-medium levels. Average PPGI prices in the local Chinese market are presented in the following table.
During the given week, ferrous metals futures prices in China have edged down, exerting a negative impact on the domestic PPGI market. Meanwhile, sales prices of PPGI in the spot market have been much lower than the prices of booking new supplies from steelmakers, resulting in significant losses on the traders’ side. In the meantime, demand has not improved, which will negatively affect PPGI prices. It is thought that PPGI prices in the Chinese domestic market will likely edge down further in the coming week.
|
Product name |
Spec. |
Quality |
City |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
Thick color coated coils |
0.476 mm x 1,000 x C |
CGCC |
Shanghai |
NewDaZhong |
7,050 |
1,014 |
↓100 |
|
Guangzhou |
Huamei |
6,100 |
878 |
↓150 |
|||
|
Boxing |
Shandong Guanzhou |
5,980 |
860 |
↓220 |
|||
|
Average |
- |
6,377 |
918 |
↓157 |
|||
|
Thin color coated coils |
0.426 mm x 1,000 x C |
CGCC |
Shanghai |
NewDaZhong |
7,650 |
1,101 |
↓100 |
|
Guangzhou |
Huamei |
6,250 |
899 |
↓150 |
|||
|
Boxing |
Shandong Guanzhou |
6,290 |
905 |
↓220 |
|||
|
Average |
- |
6,730 |
968 |
↓157 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.95